MTW » Topics » (a) Offer costs and costs in respect of conditional bid approaches

This excerpt taken from the MTW 8-K filed Jan 12, 2009.

(a)     Offer costs and costs in respect of conditional bid approaches

 

2008
During the period, the Group incurred costs of £34.5m arising from the offers for the Company from the Manitowoc Company, Inc and Illinois Tool Works, Inc (“ITW”).  Of this amount, £23.7m was incurred principally in respect of professional fees and £10.8m represents an inducement fee paid to ITW which became payable once the Enodis directors did not unanimously and without qualification recommend shareholders to vote in favour of the ITW offer.

 

2007
During H107, the Group incurred costs of £0.5m, principally in respect of professional fees, considering and responding to the conditional approaches from AGA Foodservice Group plc.

 

2006
During FY06, the Group incurred costs of £1.8m, principally in respect of professional fees, considering and responding to the conditional approaches from the Manitowoc Company, Inc and the Middleby Corporation.

 

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